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The main sponsor of the Cameroon Football Championship has committed to pay a separation premium of 820 million CFA francs to the league, to be divided between the seasons 2018 and 2019.
The mobile phone company MTN has, once again, terminated its contract with the Professional Football League of Cameroon (LFPC). This contract, which was signed in May 2017, ran for three years, for an amount of three billion CFA francs, at the rate of one billion CFA francs per year.
In view of this unexpected break, the MTN Company has committed to pay a separation premium to the LFPC, according to journalducameroun.com. Thus, the operator will give a total of 820 million CFA francs, including 610 million CFA francs for the current 2018 season and 210 million CFA francs for the 2019 season.
For this purpose, the league will receive the first tranche of 610 million CFA francs due for the 2018 season, or 305 million 48 hours after the signing of the new addendum (probably next weekend).
The mobile phone company MTN has, once again, terminated its contract with the Professional Football League of Cameroon (LFPC). This contract, which was signed in May 2017, ran for three years, for an amount of three billion CFA francs, at the rate of one billion CFA francs per year.
In view of this unexpected break, the MTN Company has committed to pay a separation premium to the LFPC, according to journalducameroun.com. Thus, the operator will give a total of 820 million CFA francs, including 610 million CFA francs for the current 2018 season and 210 million CFA francs for the 2019 season.
For this purpose, the league will receive the first tranche of 610 million CFA francs due for the 2018 season, or 305 million 48 hours after the signing of the new addendum (probably next weekend).
The remaining $ 305 million will also be paid on May 10. In January 2019, MTN will insure the payment of the entire severance pay, i.e. 210 million CFA francs.
The separation premium paid by MTN is, however, matched by counterparties. The mobile operator will retain all its rights of images and display in 2018, but they will be reduced to 35% for the 2019 season. At that date, the logo of MTN will be present only on the sleeves of the jerseys. It is still noted that the names of the first and second division leagues will keep the name MTN Elite one and two until 2019.
Neither the MTN Company nor the league has had an official communication about this breach of contract.
The separation premium paid by MTN is, however, matched by counterparties. The mobile operator will retain all its rights of images and display in 2018, but they will be reduced to 35% for the 2019 season. At that date, the logo of MTN will be present only on the sleeves of the jerseys. It is still noted that the names of the first and second division leagues will keep the name MTN Elite one and two until 2019.
Neither the MTN Company nor the league has had an official communication about this breach of contract.
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